UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2023
Commission File Number: 001-38278
Jianpu Technology Inc.
5F Times Cyber Building, 19 South Haidian Road
Haidian District, Beijing
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F x
Form 40-F ¨
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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Jianpu Technology Inc. |
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By |
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/s/ Yilü (Oscar) Chen |
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Name |
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Yilü (Oscar) Chen |
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Title |
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Chief Financial Officer |
Date: August 21, 2023
Exhibit Index
Exhibit 99.1 – Jianpu Technology Inc. Reports Second Quarter 2023 Unaudited Financial Results
Exhibit 99.1
Jianpu Technology Inc. Reports Second Quarter
2023 Unaudited Financial Results
Beijing, August 21, 2023 -- Jianpu Technology
Inc. (“Jianpu,” or the “Company”) (NYSE: JT), a leading independent open platform for the discovery and recommendation
of financial products in China, today announced its unaudited financial results for the second quarter ended June 30, 2023.
Second Quarter 2023 Operational and Financial
Highlights:
| · | Total
revenues from recommendation services for the second quarter of 2023 decreased by 8.9% to
RMB186.5 million (US$25.7 million) from RMB204.7 million in the same period of 2022. The
decrease was mainly attributable to the decrease in revenues from recommendation services
for credit cards, partially offset by the increase in revenues from recommendation services
for loans. Credit card volume decreased by 25.0% to approximately 0.9 million in the second
quarter of 2023 from 1.2 million in the same period of 2022. The number of loan applications
for recommendation services increased by 27.9% to approximately 5.5 million in the second
quarter of 2023 compared with that in the same period of 2022. |
| · | Revenues
from big data and system-based risk management services increased by 23.2% to RMB28.1 million
(US$3.9 million) in the second quarter of 2023 from RMB22.8 million in the same period of
2022. The increase was mainly attributable to the increase in average spending per customer. |
| · | Revenues
from marketing and other services1
increased by 88.6% to RMB70.9 million (US$9.8 million) in the second quarter
of 2023 from RMB37.6 million in the same period of 2022. The increase was mainly attributable
to the growth of insurance brokerage services and other new businesses. |
| · | Loss
from operations was RMB10.6 million (US$1.5 million) in the second quarter of 2023, compared
with RMB35.9 million in the same period of 2022. Operating loss margin was 3.7% in the second
quarter of 2023, compared with 13.5% in the same period of 2022. The improvement of loss
from operations was mainly attributable to the increase in revenues and the decrease in operating
expenses resulting from efficiency improvement and cost optimization. |
| · | Net
loss was RMB0.9 million (US$0.1 million) in the second quarter of 2023, compared with RMB35.9
million in the same period of 2022. Net loss margin was 0.3% in the second quarter of 2023,
compared with 13.5% in the same period of 2022. |
| · | Non-GAAP
adjusted net loss2
was RMB7.3 million (US$1.0 million) in the second quarter of 2023, compared with RMB32.2
million in the same period of 2022. Non-GAAP adjusted net loss margin2 was 2.6%
in the second quarter of 2023, compared with 12.1% in the same period of 2022. |
1 Starting from the
fourth quarter of 2022, the Company updated the description of its revenue stream “advertising, marketing and other services”
to “marketing and other services”, to provide more relevant and clear information. It also updated the revenue description
in comparative periods to conform to the current classification.
2
Non-GAAP adjusted net loss represents net loss before share-based compensation expenses, investment impairment loss and
investment gain of deconsolidation of subsidiaries. There is no income tax impact of the Non-GAAP adjustment of share-based compensation
expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. See “Unaudited Reconciliations of
GAAP and Non-GAAP Results” at the end of this press release for more details about Non-GAAP adjusted net loss. Non-GAAP adjusted
net loss margin equals Non-GAAP adjusted net loss divided by total revenues.
First Half Year 2023 Operational and Financial
Highlights:
| · | Total
revenues from recommendation services for the first half year of 2023 increased by 7.6% to
RMB375.2 million (US$51.7 million) from RMB348.8 million in the same period of 2022. The
increase was mainly attributable to the increase in revenues from recommendation services
for loans, partially offset by the decrease in revenues from recommendation services for
credit cards. The number of loan applications for recommendation services increased by 18.3%
to approximately 9.7 million in the first half year of 2023 compared with that in the same
period of 2022. The credit card volume decreased by 4.8% to approximately 2.0 million in
the first half year of 2023 compared with that in the same period of 2022. |
| · | Revenues
from big data and system-based risk management services increased by 17.9% to RMB50.7 million
(US$7.0 million) in the first half year of 2023 from RMB43.0 million in the same period of
2022. The increase was mainly attributable to the increase in average spending per customer. |
| · | Revenues
from marketing and other services1 increased by 84.4% to RMB149.0 million (US$20.5
million) in the first half year of 2023 from RMB80.8 million in the same period of 2022.
The increase was mainly attributable to the growth of insurance brokerage services and other
new businesses. |
| · | Loss
from operations was RMB34.2 million (US$4.7 million) in the first half year of 2023, compared
with RMB90.5 million in the same period of 2022. Operating loss margin was 5.9% in the first
half year of 2023, compared with 19.1% in the same period of 2022. The improvement of loss
from operations was mainly attributable to the increase in revenues and the decrease in operating
expenses resulting from efficiency improvement and cost optimization. |
| · | Net
loss was RMB21.7 million (US$3.0 million) in the first half year of 2023, compared with RMB89.0
million in the same period of 2022. Net loss margin was 3.8% in the first half year of 2023,
compared with 18.8% in the same period of 2022. |
| · | Non-GAAP
adjusted net loss2 was RMB26.7 million (US$3.7 million) in the first half year
of 2023, compared with RMB82.9 million in the same period of 2022. Non-GAAP adjusted net
loss margin2 was 4.6% in the first half year of 2023, compared with 17.5% in the
same period of 2022. |
Mr. David Ye, Co-founder, Chairman and Chief Executive Officer
of Jianpu, commented, “Through our capital-light platform model and diversified strategy, we registered a solid year-over-year
revenue growth of 7.7% while making substantial progress approaching breakeven with a net loss margin of 0.3% in the second quarter of
2023. Despite macro headwinds, our commitment to the digital transformation of financial service providers and ecosystem partners has
yielded fruitful results with impressive revenue growth of our loan recommendation services and big data and system-based services.”
1 Starting from the fourth quarter of 2022, the Company
updated the description of its revenue stream “advertising, marketing and other services” to “marketing and other services”,
to provide more relevant and clear information. It also updated the revenue description in comparative periods to conform to the current
classification.
2 Non-GAAP adjusted net loss represents net loss before
share-based compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. There is no income
tax impact of the Non-GAAP adjustment of share-based compensation expenses, investment impairment loss and investment gain of deconsolidation
of subsidiaries. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release for more details
about Non-GAAP adjusted net loss. Non-GAAP adjusted net loss margin equals Non-GAAP adjusted net loss divided by total revenues.
“Moreover, our relentless focus on enhancing operational efficiency
and optimizing cost structures brought us a remarkable ROI3 improvement. Through seamless integration of AI technologies into
our operations, we achieved heightened productivity and substantial cost savings,” concluded Mr. Ye.
“Our solid results in the second quarter of 2023 highlight our
continued strategic focus on achieving a diversified revenue structure, improving operational efficiency and executing cost optimization
initiatives. In the second quarter of 2023, our revenue growth was mainly attributable to the increase in the loan recommendation, the
big data and system-based risk management and marketing and other services1, leading to a more balanced revenue structure.
Driven by our improved productivity and continued cost optimization, we trimmed our Non-GAAP adjusted net loss2 substantially
by 77.3% year-over-year to RMB7.3 million (US$1.0 million) in the second quarter of 2023,” said Oscar Chen, Chief Financial Officer
of Jianpu.
Second Quarter 2023 Financial Results
Total revenues for the second
quarter of 2023 increased by 7.7% to RMB285.5 million (US$39.4 million) from RMB265.1 million in the same period of 2022. The increase
was mainly attributable to the increase in revenues from big data and system-based risk management services and revenues from marketing
and other services1, partially offset by the decrease in the total revenues from recommendation
services.
Total revenues from recommendation services decreased by 8.9%
to RMB186.5 million (US$25.7 million) in the second quarter of 2023 from RMB204.7 million in the same period of 2022.
Revenues from recommendation services for credit cards
decreased by 25.7% to RMB102.7 million (US$14.2 million) in the second quarter of 2023 from RMB138.2 million in the same period of
2022. As certain credit card issuers lowered their marketing budget in the second quarter of 2023, credit card volume decreased by 25.0%
to approximately 0.9 million in the second quarter of 2023 from 1.2 million in the same period of 2022. The average fee per credit card
was RMB113.5 (US$15.7) and RMB113.4 in the second quarter of 2023 and 2022, respectively.
Revenues from recommendation services for loans increased
by 26.0% to RMB83.8 million (US$11.6 million) in the second quarter of 2023 from RMB66.5 million in the same period of 2022, primarily
due to an increase in the number of loan applications on the Company’s platform. The number of loan applications was approximately
5.5 million in the second quarter of 2023, representing a 27.9% increase from that in the same period of 2022. The average fee per loan
application was RMB15.2 (US$2.1) and RMB15.4 in the second quarters of 2023 and 2022, respectively.
3 ROI represents revenue of recommendation services, marketing
and other services divided by cost of promotion and acquisition.
1 Starting from the fourth quarter of 2022, the Company
updated the description of its revenue stream “advertising, marketing and other services” to “marketing and other services”,
to provide more relevant and clear information. It also updated the revenue description in comparative periods to conform to the current
classification.
2 Non-GAAP adjusted net loss represents net loss before
share-based compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. There is no income
tax impact of the Non-GAAP adjustment of share-based compensation expenses, investment impairment loss and investment gain of deconsolidation
of subsidiaries. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release for more details
about Non-GAAP adjusted net loss. Non-GAAP adjusted net loss margin equals Non-GAAP adjusted net loss divided by total revenues.
Revenues from big data and system-based risk management services
increased by 23.2% to RMB28.1 million (US$3.9 million) in the second quarter of 2023 from RMB22.8 million in the same period of 2022,
primarily due to the increase in average spending per customer.
Revenues from marketing and other services1 increased
by 88.6% to RMB70.9 million (US$9.8 million) in the second quarter of 2023 from RMB37.6 million in the same period of 2022, primarily
due to the growth of the Company’s insurance brokerage services and other new businesses.
Cost of promotion and acquisition was RMB190.4 million (US$26.3
million) in the second quarter of 2023, compared with RMB191.8 million in the same period of 2022. The change was primarily due to the
decrease in revenues from recommendation services for credit cards, partially offset by the growth of the revenues from marketing and
other services.
Cost of operation decreased by 2.0% to RMB20.0 million (US$2.8
million) in the second quarter of 2023 from RMB20.4 million in the same period of 2022. The decrease was primarily attributable to the
decrease in software development and maintenance costs, partially offset by the increase in data acquisition costs related to the big
data and system-based risk management services.
Sales and marketing expenses
decreased by 0.9% to RMB32.9 million (US$4.5 million) in the second quarter of 2023 from RMB33.2 million in the same period of 2022.
The decrease was primarily due to the decrease in rental expenses and payroll expenses, partially offset by an increase in client service-related
expenses.
Research and development expenses decreased by 16.7% to RMB24.4
million (US$3.4 million) in the second quarter of 2023 from RMB29.3 million in the same period of 2022, primarily due to the decrease
in payroll expenses resulting from the Company’s continued efforts in cost optimization.
General and administrative expenses increased by 8.0% to RMB28.4
million (US$3.9 million) in the second quarter of 2023 from RMB26.3 million in the same period of 2022, primarily due to an increase
in allowance for credit losses.
1 Starting from the fourth quarter of 2022, the Company
updated the description of its revenue stream “advertising, marketing and other services” to “marketing and other services”,
to provide more relevant and clear information. It also updated the revenue description in comparative periods to conform to the current
classification.
Loss from operations was RMB10.6 million (US$1.5 million) in
the second quarter of 2023, compared with RMB35.9 million in the same period of 2022. Operating loss margin was 3.7% in the second quarter
of 2023, compared with 13.5% in the same period of 2022. The decrease in operating loss was mainly attributable to the increase in revenues
and the decrease in operating expenses resulting from efficiency improvement and cost optimization.
Others, net increased by 478.6% to RMB8.1 million (US$1.1 million)
in the second quarter of 2023 from RMB1.4 million in the same period of 2022. The Company recognized an investment gain of RMB7.1 million
resulting from the deconsolidation of one of its subsidiaries4 in the second quarter of 2023; while the Company recognized
an impairment loss of RMB7.8 million on equity investments and an investment gain of RMB6.1 million resulting from the deconsolidation
of another subsidiary4 in the same period of 2022.
Net loss was RMB0.9 million (US$0.1 million) in the second
quarter of 2023 compared with RMB35.9 million in the same period of 2022. Net loss margin was 0.3% in the second quarter of 2023, compared
with 13.5% in the same period of 2022.
Non-GAAP adjusted net loss2, which excluded share-based
compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries, was RMB7.3 million (US$1.0
million) in the second quarter of 2023, compared with RMB32.2 million in the same period of 2022. Non-GAAP adjusted net loss margin2
was 2.6% in the second quarter of 2023 compared with 12.1% in the same period of 2022.
Non-GAAP adjusted EBITDA5, which excluded share-based
compensation expenses, investment impairment loss, investment gain of deconsolidation of subsidiaries, depreciation and amortization,
interest income and expenses, and income tax benefits from net loss, for the second quarter of 2023 was a loss of RMB7.8 million (US$1.1
million), compared with a loss of RMB29.4 million in the same period of 2022.
4 In May 2023, the Group (Jianpu, its subsidiaries, and
VIEs together are referred to as the “Group”.) entered into a share transfer agreement with the founder and minority shareholder
of Newsky Wisdom Treasure (Beijing) Co., Ltd. (“Newsky Wisdom”), which is one of the subsidiaries of the Group before the
completion of the share transfer. During the second quarter of 2023, according to the share transfer agreement, the Group transferred
35.5% shares to the founder of Newsky Wisdom and consequently became a minority shareholder of Newsky Wisdom, and the Group no longer
has control over Newsky Wisdom. The investment gain of RMB7.1 million was recognized in the second quarter of 2023 accordingly.
In June 2022, Databook Tech Ltd (“Databook”), one of the
Company’s subsidiaries, made a cash distribution to its shareholders, through which the Company received a portion of the cash
distribution. Databook also issued additional shares to one minority shareholder and changed the Company’s board seat in Databook
to one director. The Company consequently became a minority shareholder of Databook and no longer has control over Databook. The investment
gain of RMB6.1 million was realized in the second quarter of 2022, and RMB17.0 million was realized in the fourth quarter of 2022.
2 Non-GAAP adjusted net loss represents net loss before
share-based compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. There is no income
tax impact of the Non-GAAP adjustment of share-based compensation expenses, investment impairment loss and investment gain of deconsolidation
of subsidiaries. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release for more details
about Non-GAAP adjusted net loss. Non-GAAP adjusted net loss margin equals Non-GAAP adjusted net loss divided by total revenues.
5 Non-GAAP adjusted EBITDA represents EBITDA before share-based
compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. EBITDA represents net (loss)/income
before interest income and expenses, income tax benefits from net loss and depreciation and amortization. See “Unaudited Reconciliations
of GAAP and Non-GAAP Results” for more details.
As of June 30, 2023, the Company had cash and cash equivalents
and restricted cash and time deposits of RMB668.5 million (US$92.2 million), and working capital of approximately RMB357.6 million (US$49.3
million). Compared to those as of December 31, 2022, cash and cash equivalents and restricted cash and time deposits decreased by
RMB15.7 million, which was primarily attributable to net cash used in the operating activities.
First Half Year 2023 Financial Results
Total revenues for the first half year of 2023 increased by
21.6% to RMB574.9 million (US$79.3 million) from RMB472.6 million in the same period of 2022. The increase was mainly attributable to
the increase in revenues from marketing and other services1.
Total revenues from recommendation services increased by 7.6%
to RMB375.2 million (US$51.7 million) in the first half year of 2023 from RMB348.8 million in the same period of 2022.
Revenues from recommendation services for credit cards
slightly decreased by 2.6% to RMB229.7 million (US$31.7 million) in the first half year of 2023 from RMB235.8 million in the same
period of 2022. As certain credit card issuers lowered their marketing budget in the second quarter of 2023, credit card volume in the
first half year of 2023 decreased by 4.8% to approximately 2.0 million from 2.1 million in the same period of 2022. The average fee per
credit card were RMB113.9 (US$15.7) and RMB111.3 in the first half years of 2023 and 2022, respectively.
Revenues from recommendation services for loans increased
by 28.6% to RMB145.5 million (US$20.1 million) in the first half year of 2023 from RMB113.1 million in the same period of 2022, primarily
due to the increases in both the number of loan applications on our platform and the average fee per loan application. The number of
loan applications was approximately 9.7 million in the first half year of 2023, representing an 18.3% increase from that in the same
period of 2022. The average fee per loan application increased to RMB15.0 (US$2.1) in the first half year of 2023 from RMB13.6 in the
same period of 2022.
Revenues from big data and system-based risk management services
increased by 17.9% to RMB50.7 million (US$7.0 million) in the first half year of 2023 from RMB43.0 million in the same period of
2022, primarily due to the increase in average spending per customer.
1 Starting from the fourth quarter of 2022, the Company
updated the description of its revenue stream “advertising, marketing and other services” to “marketing and other services”,
to provide more relevant and clear information. It also updated the revenue description in comparative periods to conform to the current
classification.
Revenues from marketing and other services1 increased
by 84.4% to RMB149.0 million (US$20.5 million) in the first half year of 2023 from RMB80.8 million in the same period of 2022, primarily
due to the growth of the Company’s insurance brokerage services and other new businesses.
Cost of promotion and acquisition increased by 17.6% to RMB401.5
million (US$55.4 million) in the first half year of 2023 from RMB341.3 million in the same period of 2022, primarily due to the growth
of the Company’s revenues from marketing and other services.
Cost of operation was RMB38.4 million (US$5.3 million) in the
first half year of 2023, which was relatively stable compared with RMB38.9 million in the same period of 2022.
Sales and marketing expenses decreased by 3.4% to RMB64.7 million
(US$8.9 million) in the first half year of 2023 from RMB67.0 million in the same period of 2022. The decrease was primarily due to the
decreases in payroll expenses, rental expenses and marketing and advertising expenses, partially offset by an increase in client service-related
expenses.
Research and development expenses decreased by 15.9% to RMB49.7
million (US$6.9 million) in the first half year of 2023 from RMB59.1 million in the same period of 2022, primarily due to the decreases
in payroll expenses and rental expenses resulting from our continued efforts in cost optimization.
General and administrative expenses decreased by 3.3% to RMB54.9
million (US$7.6 million) in the first half year of 2023 from RMB56.8 million in the same period of 2022, primarily due to the decreases
in allowance for credit losses, payroll expenses and rental expenses, partially offset by an increase in professional fee.
Loss from operations was RMB34.2 million (US$4.7 million) in
the first half year of 2023, compared with RMB90.5 million in the same period of 2022. Operating loss margin was 5.9% in the first half
year of 2023, compared with 19.1% in the same period of 2022. The decrease in operating loss was mainly attributable to the increase
in revenues and the decrease in operating expenses resulting from efficiency improvement and cost optimization.
1 Starting from the fourth quarter of 2022, the Company
updated the description of its revenue stream “advertising, marketing and other services” to “marketing and other services”,
to provide more relevant and clear information. It also updated the revenue description in comparative periods to conform to the current
classification.
Others, net increased by 145.2% to RMB10.3 million (US$1.4
million) in the first half year of 2023 from RMB4.2 million in the same period of 2022. The Company recognized an investment gain of
RMB7.1 million resulting from the deconsolidation of one of its subsidiaries4 in the first half year of 2023; while the Company
recognized an impairment loss of RMB7.8 million on equity investments and an investment gain of RMB6.1 million resulting from the deconsolidation
of another subsidiary4 in the first half year of 2022.
Net loss was RMB21.7 million (US$3.0 million) in the first
half year of 2023 compared with RMB89.0 million in the same period of 2022. Net loss margin was 3.8% in the first half year of 2023 compared
with 18.8% in the same period of 2022.
Non-GAAP adjusted net loss2, which excluded share-based
compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries, was RMB26.7 million (US$3.7
million) in the first half year of 2023, compared with RMB82.9 million in the same period of 2022. Non-GAAP adjusted net loss margin2
was 4.6% in the first half year of 2023 compared with 17.5% in the same period of 2022.
Non-GAAP adjusted EBITDA5, which excluded share-based
compensation expenses, investment impairment loss, investment gain of deconsolidation of subsidiaries, depreciation and amortization,
interest income and expenses, and income tax benefits from net loss, for the first half year of 2023 was a loss of RMB26.7 million (US$3.7
million), compared with a loss of RMB77.5 million in the same period of 2022.
Conference Call
The Company’s management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on August 21, 2023 (8:00 PM Beijing/Hong Kong Time on August 21, 2023).
4 In May 2023, the Group (Jianpu, its subsidiaries, and
VIEs together are referred to as the “Group”.) entered into a share transfer agreement with the founder and minority shareholder
of Newsky Wisdom Treasure (Beijing) Co., Ltd. (“Newsky Wisdom”), which is one of the subsidiaries of the Group before the
completion of the share transfer. During the second quarter of 2023, according to the share transfer agreement, the Group transferred
35.5% shares to the founder of Newsky Wisdom and consequently became a minority shareholder of Newsky Wisdom, and the Group no longer
has control over Newsky Wisdom. The investment gain of RMB7.1 million was recognized in the second quarter of 2023 accordingly.
In June 2022, Databook Tech Ltd (“Databook”), one of the
Company’s subsidiaries, made a cash distribution to its shareholders, through which the Company received a portion of the cash
distribution. Databook also issued additional shares to one minority shareholder and changed the Company’s board seat in Databook
to one director. The Company consequently became a minority shareholder of Databook and no longer has control over Databook. The investment
gain of RMB6.1 million was realized in the second quarter of 2022, and RMB17.0 million was realized in the fourth quarter of 2022.
2 Non-GAAP adjusted net loss represents net loss before
share-based compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. There is no income
tax impact of the Non-GAAP adjustment of share-based compensation expenses, investment impairment loss and investment gain of deconsolidation
of subsidiaries. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release for more details
about Non-GAAP adjusted net loss. Non-GAAP adjusted net loss margin equals Non-GAAP adjusted net loss divided by total revenues.
5 Non-GAAP adjusted EBITDA represents EBITDA before share-based
compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. EBITDA represents net (loss)/income
before interest income and expenses, income tax benefits from net loss and depreciation and amortization. See “Unaudited Reconciliations
of GAAP and Non-GAAP Results” for more details.
Dial-in details for the earnings conference call are as follows:
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United States (toll free): |
1-888-346-8982 |
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International: |
1-412-902-4272 |
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Hong Kong, China (toll free): |
800-905-945 |
|
Hong Kong, China: |
852-3018-4992 |
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Mainland China: |
400-120-1203 |
Participants should dial-in at least 5 minutes before the scheduled
start time and ask to be connected to the call for “Jianpu Technology Inc.”
Additionally, a live and archived webcast of the conference call will
be available on the Company's investor relations website at http://ir.jianpu.ai.
A replay of the conference call will be accessible approximately one
hour after the conclusion of the live call until August 28, 2023, by dialing the following telephone numbers:
|
United States (toll free): |
1-877-344-7529 |
|
International: |
1-412-317-0088 |
|
Replay Access Code: |
4076828 |
About Jianpu Technology Inc.
Jianpu Technology Inc. is a leading independent open platform for
the discovery and recommendation of financial products in China. The Company connects users with financial service providers in a convenient,
efficient, and secure way. By leveraging its proprietary technology, Jianpu provides users with customized search results and recommendations
tailored to each user’s particular financial needs and profile. The Company also enables financial service providers with sales
and marketing solutions to reach and serve their target customers more effectively through integrated channels and enhance their competitiveness
by providing them with tailored data, risk management services and solutions. The Company is committed to maintaining an independent
open platform, which allows it to serve the needs of users and financial service providers impartially. For more information, please
visit http://ir.jianpu.ai.
Use of Non-GAAP Financial Measures
The Company uses adjusted EBITDA and adjusted net (loss)/income, each
a Non-GAAP financial measure, in evaluating its operating results and for financial and operational decision-making purposes.
The Company believes that adjusted EBITDA and adjusted net (loss)/income
help identify underlying trends in its business that could otherwise be distorted by the effect of the expenses and gains that the Company
include in (loss)/income from operations and net (loss)/income. The Company believes that adjusted EBITDA and adjusted net (loss)/income
provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects
and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.
Adjusted EBITDA and adjusted net (loss)/income should not be considered
in isolation or construed as alternatives to net (loss)/income or any other measure of performance or as indicators of the Company’s
operating performance. Investors are encouraged to review the historical Non-GAAP financial measures to the most directly comparable
GAAP measures. Adjusted EBITDA and adjusted net (loss)/income presented here may not be comparable to similarly titled measures presented
by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures
to the Company’s data. The Company encourages investors and others to review its financial information in its entirety and not
rely on a single financial measure.
Adjusted EBITDA represents EBITDA before share-based compensation
expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. EBITDA represents net (loss)/income before
interest, tax, depreciation and amortization.
Adjusted net (loss)/income represents net (loss)/income before share-based
compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries.
For more information on this Non-GAAP financial measure, please see
the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “confident” and similar statements.
Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ
materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals
and strategies; the Company’s future business development, financial condition and results of operations; the Company’s expectations
regarding demand for, and market acceptance of, its solutions and services; the Company’s expectations regarding keeping and strengthening
its relationships with users, financial service providers and other parties it collaborates with; trends, competition and regulatory
policies relating to the industries the Company operates in; general economic and business conditions globally and in China; and assumptions
underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s
filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release,
and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Jianpu Technology Inc.
(IR) Liting Lu, E-mail: IR@rong360.com
(PR) Amanda Hu, E-mail: Media@rong360.com
Tel: +86 (10) 6242 7068
Christensen
Suri Cheng, E-mail: suri.cheng@christensencomms.com
Tel: +86 185 0060 8364
Crystal Lai, E-mail: crystal.lai@christensencomms.com
Tel: +852 2232 3907
In US:
Christensen
Linda Bergkamp, E-mail: linda.bergkamp@christensencomms.com
Tel: +1 480 353 6648
Jianpu Technology Inc.
Unaudited Condensed Consolidated Balance Sheets
| |
As of
December 31, | | |
As of
June 30, | |
(In thousands) | |
2022 | | |
2023 | |
| |
RMB | | |
RMB | | |
US$ | |
ASSETS | |
| | |
| | |
| |
Current assets: | |
| | | |
| | | |
| | |
Cash and cash equivalents | |
| 346,539 | | |
| 316,601 | | |
| 43,661 | |
Restricted time deposits | |
| 297,634 | | |
| 308,796 | | |
| 42,585 | |
Accounts receivable, net | |
| 189,665 | | |
| 206,378 | | |
| 28,461 | |
Amount due from related parties | |
| 153 | | |
| 158 | | |
| 22 | |
Prepayments and other current assets | |
| 46,537 | | |
| 42,574 | | |
| 5,871 | |
Total current assets | |
| 880,528 | | |
| 874,507 | | |
| 120,600 | |
Non-current assets: | |
| | | |
| | | |
| | |
Property and equipment, net | |
| 12,578 | | |
| 13,126 | | |
| 1,810 | |
Intangible assets, net | |
| 18,339 | | |
| 19,888 | | |
| 2,743 | |
Restricted cash and time deposits | |
| 40,059 | | |
| 43,130 | | |
| 5,948 | |
Other non-current assets | |
| 10,758 | | |
| 13,364 | | |
| 1,843 | |
Total non-current
assets | |
| 81,734 | | |
| 89,508 | | |
| 12,344 | |
Total assets | |
| 962,262 | | |
| 964,015 | | |
| 132,944 | |
| |
| | | |
| | | |
| | |
LIABILITIES AND SHAREHOLDERS’
EQUITY | |
| | | |
| | | |
| | |
Current liabilities: | |
| | | |
| | | |
| | |
Short-term borrowings | |
| 253,481 | | |
| 253,209 | | |
| 34,919 | |
Accounts payable
(including amounts billed through related party of RMB5,652 and RMB3,122 as of December 31, 2022 and June 30, 2023,
respectively) | |
| 96,729 | | |
| 125,388 | | |
| 17,292 | |
Advances from customers | |
| 46,920 | | |
| 45,489 | | |
| 6,273 | |
Tax payable | |
| 9,662 | | |
| 10,372 | | |
| 1,430 | |
Amount due to related parties | |
| 13,534 | | |
| 10,208 | | |
| 1,408 | |
Accrued expenses and other current liabilities | |
| 88,871 | | |
| 72,202 | | |
| 9,957 | |
Total current liabilities | |
| 509,197 | | |
| 516,868 | | |
| 71,279 | |
Non-current liabilities: | |
| | | |
| | | |
| | |
Deferred tax liabilities | |
| 3,644 | | |
| 3,496 | | |
| 482 | |
Other non-current liabilities | |
| 13,096 | | |
| 12,542 | | |
| 1,731 | |
Total non-current
liabilities | |
| 16,740 | | |
| 16,038 | | |
| 2,213 | |
Total liabilities | |
| 525,937 | | |
| 532,906 | | |
| 73,492 | |
Shareholders’ equity: | |
| | | |
| | | |
| | |
Ordinary shares | |
| 286 | | |
| 286 | | |
| 39 | |
Treasury stock, at cost | |
| (77,499 | ) | |
| (74,671 | ) | |
| (10,298 | ) |
Additional paid-in capital | |
| 1,891,266 | | |
| 1,890,548 | | |
| 260,718 | |
Accumulated losses | |
| (1,424,153 | ) | |
| (1,445,349 | ) | |
| (199,323 | ) |
Statutory reserves | |
| 2,027 | | |
| 2,027 | | |
| 280 | |
Accumulated other comprehensive income | |
| 37,941 | | |
| 57,985 | | |
| 7,997 | |
Total Jianpu’s shareholders’
equity | |
| 429,868 | | |
| 430,826 | | |
| 59,413 | |
Noncontrolling interests | |
| 6,457 | | |
| 283 | | |
| 39 | |
Total shareholders’
equity | |
| 436,325 | | |
| 431,109 | | |
| 59,452 | |
Total liabilities
and shareholders’ equity | |
| 962,262 | | |
| 964,015 | | |
| 132,944 | |
Jianpu Technology Inc.
Unaudited Condensed Consolidated Statements
of Comprehensive Loss
| |
For the
Three Months Ended June 30, | | |
For the
Six Months Ended June 30, | |
(In thousands except for number of shares and per share data) | |
2022 | | |
2023 | | |
2022 | | |
2023 | |
| |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
Revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Recommendation services: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loans
[a] | |
| 66,520 | | |
| 83,849 | | |
| 11,563 | | |
| 113,072 | | |
| 145,479 | | |
| 20,062 | |
Credit cards | |
| 138,188 | | |
| 102,687 | | |
| 14,161 | | |
| 235,775 | | |
| 229,693 | | |
| 31,676 | |
Total recommendation services | |
| 204,708 | | |
| 186,536 | | |
| 25,724 | | |
| 348,847 | | |
| 375,172 | | |
| 51,738 | |
Big
data and system-based risk management services [b] | |
| 22,788 | | |
| 28,093 | | |
| 3,874 | | |
| 43,017 | | |
| 50,740 | | |
| 6,997 | |
Marketing
and other services [b]1 | |
| 37,568 | | |
| 70,904 | | |
| 9,778 | | |
| 80,758 | | |
| 149,009 | | |
| 20,549 | |
Total revenues | |
| 265,064 | | |
| 285,533 | | |
| 39,376 | | |
| 472,622 | | |
| 574,921 | | |
| 79,284 | |
Costs and expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Cost
of promotion and acquisition [c] | |
| (191,767 | ) | |
| (190,445 | ) | |
| (26,264 | ) | |
| (341,288 | ) | |
| (401,498 | ) | |
| (55,369 | ) |
Cost
of operation [d] | |
| (20,432 | ) | |
| (19,962 | ) | |
| (2,753 | ) | |
| (38,908 | ) | |
| (38,353 | ) | |
| (5,289 | ) |
Total cost of services | |
| (212,199 | ) | |
| (210,407 | ) | |
| (29,017 | ) | |
| (380,196 | ) | |
| (439,851 | ) | |
| (60,658 | ) |
Sales and marketing expenses | |
| (33,160 | ) | |
| (32,936 | ) | |
| (4,542 | ) | |
| (67,022 | ) | |
| (64,690 | ) | |
| (8,921 | ) |
Research
and development expenses [e] | |
| (29,303 | ) | |
| (24,368 | ) | |
| (3,361 | ) | |
| (59,068 | ) | |
| (49,700 | ) | |
| (6,854 | ) |
General and administrative
expenses | |
| (26,283 | ) | |
| (28,442 | ) | |
| (3,922 | ) | |
| (56,831 | ) | |
| (54,879 | ) | |
| (7,568 | ) |
Loss from operations | |
| (35,881 | ) | |
| (10,620 | ) | |
| (1,466 | ) | |
| (90,495 | ) | |
| (34,199 | ) | |
| (4,717 | ) |
Net interest expenses | |
| (1,583 | ) | |
| 1,531 | | |
| 211 | | |
| (2,904 | ) | |
| 2,034 | | |
| 281 | |
Others, net | |
| 1,398 | | |
| 8,067 | | |
| 1,112 | | |
| 4,171 | | |
| 10,295 | | |
| 1,420 | |
Loss before income tax | |
| (36,066 | ) | |
| (1,022 | ) | |
| (143 | ) | |
| (89,228 | ) | |
| (21,870 | ) | |
| (3,016 | ) |
Income tax benefits | |
| 124 | | |
| 81 | | |
| 11 | | |
| 249 | | |
| 162 | | |
| 22 | |
Net loss | |
| (35,942 | ) | |
| (941 | ) | |
| (132 | ) | |
| (88,979 | ) | |
| (21,708 | ) | |
| (2,994 | ) |
Less: net income/(loss)
attributable to noncontrolling interests | |
| (1,087 | ) | |
| 152 | | |
| 21 | | |
| (2,406 | ) | |
| (512 | ) | |
| (71 | ) |
Net loss attributable to Jianpu
Technology Inc. | |
| (34,855 | ) | |
| (1,093 | ) | |
| (153 | ) | |
| (86,573 | ) | |
| (21,196 | ) | |
| (2,923 | ) |
Accretion of mezzanine
equity | |
| (8,740 | ) | |
| - | | |
| - | | |
| (8,740 | ) | |
| - | | |
| - | |
Net loss
attributable to Jianpu’s shareholders | |
| (43,595 | ) | |
| (1,093 | ) | |
| (153 | ) | |
| (95,313 | ) | |
| (21,196 | ) | |
| (2,923 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Other comprehensive income | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Foreign currency
translation adjustments | |
| 32,181 | | |
| 27,177 | | |
| 3,748 | | |
| 29,386 | | |
| 20,018 | | |
| 2,761 | |
Total other
comprehensive income | |
| 32,181 | | |
| 27,177 | | |
| 3,748 | | |
| 29,386 | | |
| 20,018 | | |
| 2,761 | |
Total comprehensive income/(loss) | |
| (3,761 | ) | |
| 26,236 | | |
| 3,616 | | |
| (59,593 | ) | |
| (1,690 | ) | |
| (233 | ) |
Less: total comprehensive
income/(loss) attributable to noncontrolling interests | |
| (982 | ) | |
| 154 | | |
| 21 | | |
| (2,237 | ) | |
| (538 | ) | |
| (74 | ) |
Total comprehensive income/(loss)
attributable to Jianpu Technology Inc. | |
| (2,779 | ) | |
| 26,082 | | |
| 3,595 | | |
| (57,356 | ) | |
| (1,152 | ) | |
| (159 | ) |
Accretion of mezzanine
equity | |
| (8,740 | ) | |
| - | | |
| - | | |
| (8,740 | ) | |
| - | | |
| - | |
Total comprehensive
income/(loss) attributable to Jianpu’s shareholders | |
| (11,519 | ) | |
| 26,082 | | |
| 3,595 | | |
| (66,096 | ) | |
| (1,152 | ) | |
| (159 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net loss per share attributable
to Jianpu’s shareholders | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Basic | |
| (0.10 | ) | |
| - | | |
| - | | |
| (0.22 | ) | |
| (0.05 | ) | |
| (0.01 | ) |
Diluted | |
| (0.10 | ) | |
| - | | |
| - | | |
| (0.22 | ) | |
| (0.05 | ) | |
| (0.01 | ) |
Net loss per ADS attributable
to Jianpu’s shareholders | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Basic | |
| (2.06 | ) | |
| (0.05 | ) | |
| (0.01 | ) | |
| (4.50 | ) | |
| (1.00 | ) | |
| (0.14 | ) |
Diluted | |
| (2.06 | ) | |
| (0.05 | ) | |
| (0.01 | ) | |
| (4.50 | ) | |
| (1.00 | ) | |
| (0.14 | ) |
Weighted average number of shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Basic | |
| 423,707,654 | | |
| 424,587,819 | | |
| 424,587,819 | | |
| 423,692,650 | | |
| 424,521,907 | | |
| 424,521,907 | |
Diluted | |
| 423,707,654 | | |
| 424,587,819 | | |
| 424,587,819 | | |
| 423,692,650 | | |
| 424,521,907 | | |
| 424,521,907 | |
1 Starting from the fourth quarter of 2022, the Company
updated the description of its revenue stream “advertising, marketing and other services” to “marketing and other services”,
to provide more relevant and clear information. It also updated the revenue description in comparative periods to conform to the current
classification.
[a] Including revenues from related party of RMB117 and RMB383 for
the three months ended June 30, 2022 and 2023, respectively, and RMB134 and RMB709 for the six months ended June 30, 2022 and
2023, respectively.
[b] Including revenues from related party of RMB1,160 and RMB815 for
the three months ended June 30, 2022 and 2023, respectively, and RMB2,332 and RMB1,628 for the six months ended June 30, 2022
and 2023, respectively.
[c] Including cost of promotion and acquisition from related party
of RMB140 and nil for the three months ended June 30, 2022 and 2023, respectively, and RMB140 and RMB8 for the six months ended
June 30, 2022 and 2023, respectively.
[d] Including cost of operation from related party of RMB97 and RMB295
for the three months ended June 30, 2022 and 2023, respectively, and RMB208 and RMB471 for the six months ended June 30, 2022
and 2023, respectively.
[e] Including expenses from related party of RMB251 and RMB256 for
the three months ended June 30, 2022 and 2023, respectively, and RMB367 and RMB256 for the six months ended June 30, 2022 and
2023, respectively.
Jianpu Technology Inc.
Unaudited Reconciliations of GAAP and Non-GAAP
Results
| |
For the
Three Months Ended June 30, | | |
For the
Six Months Ended June 30, | |
(In thousands) | |
2022 | | |
2023 | | |
2022 | | |
2023 | |
| |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
Net loss | |
| (35,942 | ) | |
| (941 | ) | |
| (132 | ) | |
| (88,979 | ) | |
| (21,708 | ) | |
| (2,994 | ) |
Add: Share-based compensation expenses | |
| 2,118 | | |
| 709 | | |
| 98 | | |
| 4,439 | | |
| 2,086 | | |
| 288 | |
Investment impairment loss | |
| 7,823 | | |
| - | | |
| - | | |
| 7,823 | | |
| - | | |
| - | |
Investment
gain of deconsolidation of subsidiaries4 | |
| (6,149 | ) | |
| (7,057 | ) | |
| (973 | ) | |
| (6,149 | ) | |
| (7,057 | ) | |
| (973 | ) |
Non-GAAP
adjusted net loss2 | |
| (32,150 | ) | |
| (7,289 | ) | |
| (1,007 | ) | |
| (82,866 | ) | |
| (26,679 | ) | |
| (3,679 | ) |
Add: Depreciation and amortization | |
| 1,289 | | |
| 1,134 | | |
| 156 | | |
| 2,724 | | |
| 2,216 | | |
| 306 | |
Net interest expenses | |
| 1,583 | | |
| (1,531 | ) | |
| (211 | ) | |
| 2,904 | | |
| (2,034 | ) | |
| (281 | ) |
Income tax benefits | |
| (124 | ) | |
| (81 | ) | |
| (11 | ) | |
| (249 | ) | |
| (162 | ) | |
| (22 | ) |
Non-GAAP
adjusted EBITDA5 | |
| (29,402 | ) | |
| (7,767 | ) | |
| (1,073 | ) | |
| (77,487 | ) | |
| (26,659 | ) | |
| (3,676 | ) |
4 In May 2023, the Group (Jianpu, its subsidiaries, and
VIEs together are referred to as the “Group”.) entered into a share transfer agreement with the founder and minority shareholder
of Newsky Wisdom Treasure (Beijing) Co., Ltd. (“Newsky Wisdom”), which is one of the subsidiaries of the Group before the
completion of the share transfer. During the second quarter of 2023, according to the share transfer agreement, the Group transferred
35.5% shares to the founder of Newsky Wisdom and consequently became a minority shareholder of Newsky Wisdom, and the Group no longer
has control over Newsky Wisdom. The investment gain of RMB7.1 million was recognized in the second quarter of 2023 accordingly.
In June 2022, Databook Tech Ltd (“Databook”), one of the
Company’s subsidiaries, made a cash distribution to its shareholders, through which the Company received a portion of the cash
distribution. Databook also issued additional shares to one minority shareholder and changed the Company’s board seat in Databook
to one director. The Company consequently became a minority shareholder of Databook and no longer has control over Databook. The investment
gain of RMB6.1 million was realized in the second quarter of 2022, and RMB17.0 million was realized in the fourth quarter of 2022.
2 Non-GAAP adjusted net loss represents net loss before
share-based compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. There is no income
tax impact of the Non-GAAP adjustment of share-based compensation expenses, investment impairment loss and investment gain of deconsolidation
of subsidiaries. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release for more details
about Non-GAAP adjusted net loss. Non-GAAP adjusted net loss margin equals Non-GAAP adjusted net loss divided by total revenues.
5 Non-GAAP adjusted EBITDA represents EBITDA before share-based
compensation expenses, investment impairment loss and investment gain of deconsolidation of subsidiaries. EBITDA represents net (loss)/income
before interest income and expenses, income tax benefits from net loss and depreciation and amortization. See “Unaudited Reconciliations
of GAAP and Non-GAAP Results” for more details.
Jianpu Technology (NYSE:JT)
過去 株価チャート
から 4 2024 まで 5 2024
Jianpu Technology (NYSE:JT)
過去 株価チャート
から 5 2023 まで 5 2024